Yinan Hu: So, first and foremost, what we want to reiterate is that our collaboration will not change the positioning of Fanhua and our strategic direction. Last year, we basically issued our new mission statement for the company. And we made it very clear that our objective going forward is to become the regional service provider for family services, broadening our capability beyond insurance, but into education, retirement, et cetera. So we’re advocating is insurance — a insurance plus model beyond Mainland China. And we think the business [indiscernible] opportunity to have a visit at White Group is very, very timely for us. So the synergy that can bring about what our cooperation White Group is really based on to upgrade in terms of our capability.
The first one is that the White — Singapore’s White Group have much better capability in terms of capital raising, particularly in the international market compared to Fanhua. Secondly, is that their track record and capability in mergers and acquisitions is also very evident. Given the history and success, we think these two capabilities serves as important upgrades for Fanhua as we pursue our strategy of going global through organic and inorganic strategies. M&A will be a core part of our strategy, because we think that the opportunity for consolidation in the market not only in China, but across the region is very, very significant. And really we’ll focus on two areas. Number one is all our mergers and acquisitions will focus on bringing capabilities to improve, or help us execute on our strategy of developing a professional sales team across the region.
And then secondly, is helping us to broaden our services to high net worth clients. So without a doubt, the biggest change to our industry from 2024 onwards, is the commission cap. And we think, if we look at the regulatory purpose of the commission cap is really to drive higher quality growth. Now how do you achieve that? We think, at the end it comes down to upgrading your capability, that can be very, very important. So, we think the commission cap is the right thing for the industry, we fully embrace it. And our strategy is on basically putting the resources on improving our capability, so that in this environment we will become the biggest beneficiary. Thank you.
Operator: I’m showing no further questions at this time. So with that, I hand the call back over to Oasis Qiu for any closing remarks.
Oasis Qiu: Thank you for joining us on today’s conference call. If you have any further questions, please feel free to contact us. Thank you.
Operator: Thank you for participating. This concludes today’s program, and you may now disconnect.
